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Explore the latest developments in the electric vehicle (EV) industry with in-depth analysis of Volvo Cars' acquisition of NOVO Energy. This strategic move underscores Volvo's commitment to electrification and highlights the challenges faced by battery manufacturers like Northvolt. For more insights into the evolving EV landscape, visit gptonline.ai . Volvo Acquires Full Ownership of NOVO Energy: Strategic Implications and Industry Impact Introduction In a significant move within the electric vehicle (EV) sector, Volvo Cars has acquired full ownership of NOVO Energy, its former joint venture with Northvolt AB. This acquisition follows Northvolt's financial challenges and marks a pivotal step for Volvo in securing its battery supply chain. Background: The NOVO Energy Joint Venture Established in 2021, NOVO Energy was a collaborative effort between Volvo Cars and Northvolt AB to produce high-performance batteries for Volvo's next-generation electric vehicles. The j...